If bitcoin price is $10.000, will fiat be worthless?

[Bitcoin0916]

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe  that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00  fiat is still stable and important.

And that's will make fiat still worth it and for bitcoins adoption today still we all know that stores are very limited to those who are accepting bitcoins. It won't make fiat worthless even the value of bitcoin will be even higher as $100,000. Because it has been used for many years already and the people is trusting it more rather than bitcoin.

Maybe the question that must be answered first is, is bitcoin will hit the value of $100,000 per BTC?

That's too unrealistic for now, I do not see in the future that price will happen. If miracle will happen but I double people will be able to sell that amount because I have feeling that when the price hits $10,000 people will be willing to sell their bitcoins for money.

I think it is still possible, 5 years ago no one thought that the price will reach $750. With increasing number of users and transactions, certainly no more than 10 years again to reach $10,000.

[PokerFace3]

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe  that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00  fiat is still stable and important.

I think first it is very difficult that the price of bitcoin will reach to that high price, I think at that price no one will be able to trade bitcoin, and the second is that still majority of people do not know  anything about bitcoin even they not hear the name of bitcoin so they are still using, therefore fiat is not going to worthless so easily.

[tee-rex]

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe  that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00  fiat is still stable and important.

I think first it is very difficult that the price of bitcoin will reach to that high price, I think at that price no one will be able to trade bitcoin, and the second is that still majority of people do not know  anything about bitcoin even they not hear the name of bitcoin so they are still using, therefore fiat is not going to worthless so easily.

In my view, there will be too many people buying Bitcoin "just for lulz" to justify it going that low. Bitcoin's wide popularity will prevent this. It is more like around $150-200 per coin being the lowest possible price for now. Cheaper than that would quickly lead to a surge in demand for bitcoins, therefore so low prices won't be sustainable.

[mirakal]

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe  that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00  fiat is still stable and important.

I think first it is very difficult that the price of bitcoin will reach to that high price, I think at that price no one will be able to trade bitcoin, and the second is that still majority of people do not know  anything about bitcoin even they not hear the name of bitcoin so they are still using, therefore fiat is not going to worthless so easily.

In my view, there will be too many people buying Bitcoin "just for lulz" to justify it going that low. Bitcoin's wide popularity will prevent this. It is more like around $150-200 per coin being the lowest possible price for now. Cheaper than that would quickly lead to a surge in demand for bitcoins, therefore so low prices won't be sustainable.

The main reason why people trade is not because the high price or the low price, it's because the price move and they can take advantage of the price movement. It's pretty simple to understand if you are a trader especially a day trader.

[praboso96]

Fiat will always need. And it is not dependent on the price of Bitcoin. there are many countries who know little about Bitcoin and increase its cost will not affect the centralized currency

[Hamtard]

Fiat will always need. And it is not dependent on the price of Bitcoin. there are many countries who know little about Bitcoin and increase its cost will not affect the centralized currency

Fiat got physical forms such as notes. They can be useful in the places without internet or the elctricity supply.

[kryptqnick]

This is interesting. It seems like it is worthless, at least comparing to bitcoin. However, considering the fact that btc is just not accepted in most of places and is illegal in many countries, I think it isn't true, because people will just keep using fiat money, guaranteed by the government. Bitcoin was less than a dollar and was more than a thousand. Did it anyhow affect fiat money? I think it didn't. That's why I think that it won't.

[Japinat]

This is interesting. It seems like it is worthless, at least comparing to bitcoin. However, considering the fact that btc is just not accepted in most of places and is illegal in many countries, I think it isn't true, because people will just keep using fiat money, guaranteed by the government. Bitcoin was less than a dollar and was more than a thousand. Did it anyhow affect fiat money? I think it didn't. That's why I think that it won't.

I don't have an idea that bitcoin is illegal in many countries and I do not believe on that statement, maybe it's illegal in some but not in many countries. You are like saying it's illegal in majority of the countries, and that does not speak for the result. If it's illegal then we are not be able to witness a great success so far.

[Dudeperfect]

Fiat will always need. And it is not dependent on the price of Bitcoin. there are many countries who know little about Bitcoin and increase its cost will not affect the centralized currency

No matter how much we encourage people to use bitcoin or other crypto currencies, there will be some people who will always prefer fiat currencies for one or more reasons. Even though bitcoin reach $1,00,000 per coin, they will still be using fiat currency just for the sake of traditional way of spending money. Now, even if bitcoin gains a large space in the mainstream fund transfer industry still fiat will have its value just because it is governed by governments and they have constitutional rights to manage currency and its values.

[boyptc]

This is interesting. It seems like it is worthless, at least comparing to bitcoin. However, considering the fact that btc is just not accepted in most of places and is illegal in many countries, I think it isn't true, because people will just keep using fiat money, guaranteed by the government. Bitcoin was less than a dollar and was more than a thousand. Did it anyhow affect fiat money? I think it didn't. That's why I think that it won't.

I don't have an idea that bitcoin is illegal in many countries and I do not believe on that statement, maybe it's illegal in some but not in many countries. You are like saying it's illegal in majority of the countries, and that does not speak for the result. If it's illegal then we are not be able to witness a great success so far.

I don't either but I know that there are some countries that are prohibiting the usage of bitcoin so I guess we can count it in. Whatever the price of bitcoin if they are not allowing bitcoin to penetrate to their system then bitcoin for them is useless but of course there are some people who are treating bitcoin as precious as gold but still uses fiat.

[Sir Paijoe]

I think fiat is not affected by the price of bitcoin, this is two different thing because each could complement each other. Let us keep each other so that both of them still remain.

[carlerha]

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe  that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00  fiat is still stable and important.

i think the main reason is that bitcoin is not yet so much popular and the facilities of bitcoin are not present every where as currency, therefor people are most using it for investment, but hope that in future people will start using bitcoin as currency and at that time bitcoin will be one of the most popular currency fo the world.

[Fatanut]

I think fiat is not affected by the price of bitcoin, this is two different thing because each could complement each other. Let us keep each other so that both of them still remain.

The price of bitcoin, maybe so, maybe not? Bitcoin having this price would mean that a lot of people are already using it. We're starting to grow in numbers. That means mass adoption is starting to happen. It would only be a matter of time once we start to grow. Right now, we're not growing that much just yet. But we'll come to that.

The price of bitcoin is one of the signs of how much people are already using it. Mass adoption would surely increase the price of bitcoin.

[tee-rex]

I think first it is very difficult that the price of bitcoin will reach to that high price, I think at that price no one will be able to trade bitcoin, and the second is that still majority of people do not know  anything about bitcoin even they not hear the name of bitcoin so they are still using, therefore fiat is not going to worthless so easily.

In my view, there will be too many people buying Bitcoin "just for lulz" to justify it going that low. Bitcoin's wide popularity will prevent this. It is more like around $150-200 per coin being the lowest possible price for now. Cheaper than that would quickly lead to a surge in demand for bitcoins, therefore so low prices won't be sustainable.

The main reason why people trade is not because the high price or the low price, it's because the price move and they can take advantage of the price movement. It's pretty simple to understand if you are a trader especially a day trader.

If you can't open short positions, which is the case if you are a typical Bitcoin hodler, there is no way to earn profits when the price starts to decline. And when such decline is going to turn into something more serious than a ordinary correction, buying Bitcoin in the middle of this inverse rally may be dangerous, leaving you with losses. So not every price movement is advantageous and profitable.

[upsidedown75]

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe  that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00  fiat is still stable and important.

But I think the trend is now changing, as people are adopting bitcoin not only for investment purpose but now many people are using bitcoin as currency, they use bitcoin not only for online business and shopping but now there are so many places where bitcoin can be used for shopping like in local shops also.

[MWesterweele]

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

If the value of bitcoin rich on this point it is really possible bitcoin has a good potential to become more than this in pricing i always visiting markets and bitcoin is really good. You can just make profit when you are trading bitcoin into another currency not because bitcoin is not stable because it is really good income source.

[serjent05]

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

If the value of bitcoin rich on this point it is really possible bitcoin has a good potential to become more than this in pricing i always visiting markets and bitcoin is really good. You can just make profit when you are trading bitcoin into another currency not because bitcoin is not stable because it is really good income source.

But this does not make fiat worthless.  What ever happen to the price of bitcoin, fiat will always be used in daily lives.  If you just think of it, all the opportunity given by bitcoin already given by fiat, but the advantage is that, there is less competition with bitcoin.

[Mastsetad]

But I think the trend is now changing, as people are adopting bitcoin not only for investment purpose but now many people are using bitcoin as currency, they use bitcoin not only for online business and shopping but now there are so many places where bitcoin can be used for shopping like in local shops also.

No matter how many people adopts bitcoin or use it as a currency but it would still not be able to replace fiat, people all over the world have been using fiat for centuries, so even if they find something like bitcoin to be used they will still give importance to fiat so the price of bitcoin thus reaches too high but it wont make fiat worthless.

[mastica]

But I think the trend is now changing, as people are adopting bitcoin not only for investment purpose but now many people are using bitcoin as currency, they use bitcoin not only for online business and shopping but now there are so many places where bitcoin can be used for shopping like in local shops also.

No matter how many people adopts bitcoin or use it as a currency but it would still not be able to replace fiat, people all over the world have been using fiat for centuries, so even if they find something like bitcoin to be used they will still give importance to fiat so the price of bitcoin thus reaches too high but it wont make fiat worthless.

Sure fiat is at the control, the bitcoin transactions arent near to achieve 1% the fiat transactions, and this is something that wont change. The value of bitcoin wont make any effect over fiat besides the exchange from bitcoin to fiat.

[Dannison]

But I think the trend is now changing, as people are adopting bitcoin not only for investment purpose but now many people are using bitcoin as currency, they use bitcoin not only for online business and shopping but now there are so many places where bitcoin can be used for shopping like in local shops also.

No matter how many people adopts bitcoin or use it as a currency but it would still not be able to replace fiat, people all over the world have been using fiat for centuries, so even if they find something like bitcoin to be used they will still give importance to fiat so the price of bitcoin thus reaches too high but it wont make fiat worthless.

Sure fiat is at the control, the bitcoin transactions arent near to achieve 1% the fiat transactions, and this is something that wont change. The value of bitcoin wont make any effect over fiat besides the exchange from bitcoin to fiat.

That is because not many people know about the bitcoin and also the block size of the bitcoin is too small.